Iconix Brand Group Announces Upsizing and Pricing of $600M Securitized Notes

Iconix Brand Group

, today announced that certain of its subsidiaries have priced $600 million of Series 2012-1, Class A-2 Fixed Rate Senior Secured Notes ("Class A-2 Senior Notes"). The size of the Class A-2 Senior Notes offering was increased from the previously announced $500 million principal amount of Class A-2 Senior Notes to $600 million principal amount of Class A-2 Senior Notes. The Class A-2 Senior Notes, which will be issued in a private securitized financing transaction, will have an expected life of seven years and bear interest at 4.229% per annum, payable quarterly. The net proceeds from the sale of the Class A-2 Senior Notes will be used to finance the Company's pending acquisition of the Umbro brand, to repay outstanding indebtedness under the Company's existing revolving credit facility and asset backed notes, and for general corporate purposes, including potential acquisitions and/or share repurchases. The Company expects the offering to close the week of November 26, 2012. The Class A-2 Senior Notes will not be registered under the Securities Act of 1933, as amended (the "Securities Act") or any state securities laws, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any applicable state securities laws. This press release is neither an offer to sell nor the solicitation of an offer to buy the Class A-2 Senior Notes or any other security, and shall not constitute an offer, solicitation or sale of the Class A-2 Senior Notes or any other security in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.